Transocean Ltd. (NYSE:RIG) shares gapped up prior to trading on Thursday . The stock had previously closed at $10.07, but opened at $10.11. Transocean shares last traded at $10.54, with a volume of 7,736,640 shares traded.

Several research analysts recently commented on the stock. Citigroup Inc. reiterated a “sell” rating and issued a $6.00 target price (up previously from $4.00) on shares of Transocean in a report on Monday, May 16th. Simmons boosted their price objective on shares of Transocean from $2.50 to $4.65 and gave the stock an “underweight” rating in a report on Friday, August 5th. Canaccord Genuity downgraded shares of Transocean from a “hold” rating to a “sell” rating and set a $8.50 price objective on the stock. in a report on Friday, July 8th. Royal Bank Of Canada dropped their price objective on shares of Transocean from $14.00 to $11.00 and set a “sector perform” rating on the stock in a report on Friday, August 12th. Finally, Zacks Investment Research upgraded shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Wednesday, June 29th. Thirteen research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.00.

The company has a market capitalization of $3.88 billion and a P/E ratio of 3.10. The firm’s 50-day moving average is $11.31 and its 200-day moving average is $10.35.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Wednesday, August 3rd. The offshore drilling services provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18. The company earned $943 million during the quarter. The company’s quarterly revenue was down 49.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 EPS. On average, equities analysts expect that Transocean Ltd. will post $0.96 EPS for the current fiscal year.

Several large investors recently bought and sold shares of RIG. Schwab Charles Investment Management Inc. increased its stake in Transocean by 26.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,361,469 shares of the offshore drilling services provider’s stock worth $16,855,000 after buying an additional 284,784 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Transocean by 14.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,840,322 shares of the offshore drilling services provider’s stock valued at $59,920,000 after buying an additional 602,670 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Transocean by 65.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 120,978 shares of the offshore drilling services provider’s stock valued at $1,498,000 after buying an additional 47,822 shares in the last quarter. Marshall Wace LLP increased its stake in Transocean by 38.3% in the fourth quarter. Marshall Wace LLP now owns 382,126 shares of the offshore drilling services provider’s stock valued at $4,731,000 after buying an additional 105,783 shares in the last quarter. Finally, Comerica Bank increased its stake in Transocean by 3.4% in the fourth quarter. Comerica Bank now owns 109,793 shares of the offshore drilling services provider’s stock valued at $1,180,000 after buying an additional 3,617 shares in the last quarter.

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews primarily on a day rate basis to drill oil and gas wells. The Company operates through the contract drilling services segment.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.